Company Overview - Guangzhou Highlan Technology Co., Ltd. is located in the Science City of Guangzhou, Guangdong Province, and was established on June 29, 2001. The company went public on February 2, 2016. Its main business involves the research, design, production, and sales of pure water cooling equipment and control systems for high-power electronic devices [1]. Business Segmentation - The revenue composition of the company is as follows: 53.54% from high-power electronic thermal management products, 32.78% from high-density device thermal management products, 10.52% from engineering operation and maintenance services, and 3.15% from other sources [1]. Stock Performance - On September 22, the stock price of Highlan increased by 5.1%, reaching 33.61 CNY per share, with a trading volume of 641 million CNY and a turnover rate of 7.20%. The total market capitalization is 10.259 billion CNY [1]. Fund Holdings - According to data, one fund under Bosera Asset Management holds a significant position in Highlan. The Bosera Specialized and New Theme Mixed A Fund (014232) held 175,800 shares in the second quarter, accounting for 0.69% of the fund's net value, ranking as the eighth largest holding. The estimated floating profit today is approximately 286,600 CNY [2]. Fund Performance - The Bosera Specialized and New Theme Mixed A Fund was established on December 6, 2021, with a current scale of 236 million CNY. Year-to-date, it has achieved a return of 48.04%, ranking 1051 out of 8244 in its category. Over the past year, the return is 101.03%, ranking 528 out of 8066, and since inception, the return is 28.48% [2]. Fund Management - The fund managers of Bosera Specialized and New Theme Mixed A are Guo Xiaolin and Liu Yuqiang. Guo has a tenure of 9 years and 67 days, with a total fund asset size of 1.739 billion CNY, achieving a best return of 150.46% and a worst return of -38.97% during his tenure. Liu has a tenure of 2 years and 235 days, managing assets of 2.072 billion CNY, with a best return of 44.7% and a worst return of 6.09% [3].

Core Viewpoint - Zhongyuan Co., Ltd. (300018.SZ) reported its semi-annual results for 2025, highlighting an increase in institutional investor holdings and the presence of new public funds [1] Group 1: Institutional Holdings - As of August 25, 2025, four institutional investors disclosed holdings in Zhongyuan Co., Ltd., totaling 10.1251 million shares, which represents 2.09% of the company's total share capital [1] - The institutional investors include Luoyang Huashi New Energy Technology Co., Ltd., Bosera Specialized and New Theme Mixed A, Penghua Quantitative Pioneer Mixed, and CSI 1000 ETF Enhanced [1] - Compared to the previous quarter, the total institutional holding percentage increased by 0.09 percentage points [1] Group 2: Public Funds - Three new public funds were disclosed in this period compared to the previous quarter, including Bosera Specialized and New Theme Mixed A, Penghua Quantitative Pioneer Mixed, and CSI 1000 ETF Enhanced [1] - One public fund, Xingyin CSI 1000 Index Enhanced A, was not disclosed in this period, indicating a reduction in the number of public funds [1]

Group 1 - Highlan Co., Ltd. (300499.SZ) released its semi-annual report for 2025 on August 23, 2025, showing that as of August 22, 2025, 11 institutional investors held a total of 26.38 million shares, accounting for 8.64% of the total share capital [1] - The top ten institutional investors include major entities such as Industrial and Commercial Bank of China and China Construction Bank, with their combined shareholding increasing by 1.51 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, namely the Fortune Optimized Enhanced Bond A/B, increased its holdings by 0.40% compared to the previous period [2] - Six new public funds disclosed their holdings in Highlan Co., Ltd., including notable funds like Nuon Anhe Xin Mixed A and Fortune New Vitality Flexible Allocation Mixed A [2] - One new social security fund, the National Social Security Fund 116 Combination, disclosed its holdings in Highlan Co., Ltd. during this period [2]

Group 1 - The core viewpoint of the article is that Yuanfang Information (300306.SZ) reported a decrease in institutional ownership in its semi-annual report for 2025, with a total of 51.02 million shares held by institutional investors, representing 18.97% of the total share capital, down by 1.68 percentage points from the previous quarter [1] Group 2 - As of August 15, 2025, there are two institutional investors disclosed holding shares in Yuanfang Information, including Hangzhou Yuanfang Changyi Investment Co., Ltd. and Bosera Specialized and New Theme Mixed A [1] - One new public fund was disclosed in this period, which is Bosera Specialized and New Theme Mixed A, while three public funds were not disclosed compared to the previous quarter [1] - Foreign institutional investors that were not disclosed in this period include Goldman Sachs LLC and Morgan Stanley & Co. International PLC [1]

Core Insights - 联动科技发布了2024年年度报告，显示截至2025年4月17日，37个机构投资者持有其A股股份，总持股量为71.27万股，占总股本的1.02% [1] - 前十大机构投资者的合计持股比例为0.94%，较上一季度下降了2.49个百分点 [1] - 本期新披露的公募基金数量为35个，主要包括多个与半导体相关的主题基金 [1] Institutional Holdings - 37个机构投资者持有联动科技A股股份，合计71.27万股，占总股本的1.02% [1] - 前十大机构投资者合计持股比例为0.94%，较上一季度下降2.49个百分点 [1] - 新披露的公募基金包括大成中证360互联网+指数A、国泰中证半导体材料设备主题ETF等 [1] Foreign Investment - 本期新披露的外资机构为1家，即BARCLAYS BANK PLC [2] - 高盛公司有限责任公司在本期未再披露 [2]